Cap in hand to the Chinese, it really doesn’t get any worse than this. And what this article doesn’t mention, but is reported in the FT, is that China is trying to tie the cash to a gagging clause which would prevent EU leaders from criticizing Chinese
currency policy (notably the undervaluing of the renminbi for competitive advantage), and possibly on much else as well.
If the EU agrees to such a clause it really will be their very own economic and political Munich, and the start of a long slippery slide into servitude to the Chinese.
The Chinese aren’t even doing anyone a favour. Their money would be invested, with the expectation of a return on that investment, the same as any other investor. It’s straight
forward business, no other investor is allowed to add gagging clauses and if the Chinese even mention one they should be shown the door.
The EU urgently needs a “get tough on China policy’, limiting the size of stakes the Chinese government (all Chinese companies above a certain size are ultimately govt controlled) can take in EU companies, and restricting Chindese economic and political interference in the EU.
- Animal_Farm
